Contents of the Application Package. Additional Documents to Provide INSTRUCTIONS FOR SUBMISSION. Silvergate Bank Correspondent Services Group

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1 Thank you for your interest in becoming an approved correspondent client with Silvergate Bank. In order to make the application process as customerfriendly as possible, we have outlined the documents and information we will need to have executed and returned to our Client Eligibility Group. If you have any questions or require assistance in completing this package, please don t hesitate to contact us at the number referenced below. Thank you for considering Silvergate Bank s Correspondent Services Group as your business partner. Contents of the Application Package Correspondent Client Application Compliance Controls Questionnaire Request for Tax Payer Identification Number and Certification (Form W-9) Additional Documents to Provide Please provide the following Client-specific information as described in the Correspondent Client Application: Articles of Incorporation or other applicable business documents Copies of agency approval letters Recent performance Scorecards from investors and existing warehouse lenders (if applicable) Most recent quarterly financial statement and last 2 full years of audited financial statements Copies of Errors and Omissions & Fidelity Bond Policies (note: minimum of $500,000 in coverage with $25,000 maximum deductible) Copy of Quality Control Policies and Procedures with most recent 3 months audit results Copy of Mortgage Loan Originator Compensation Policy Copy of all compliance policies and procedures Resumes of Principals and Underwriters Copy of hedging policies and procedures and sample reports (if applicable) Branch office listing Listing of all loan repurchases, make whole demands and indemnification requests received in preceding 2 years AML/SAR Program Policy Organizational Chart Current Business Plan for upcoming fiscal year Corporate resume or narrative of company history and scope of operations INSTRUCTIONS FOR SUBMISSION Please forward all information to the address below, or via to csg@silvergatebank.com CORRESPONDENT CLIENT APPLICATION Silvergate Bank Correspondent Services Group 4250 Executive Square, Suite 300 La Jolla, CA FWF-030.pdf P a g e 1 REV

2 PROGRAM APPROVALS REQUESTED: FORWARD MORTGAGES MANDATORY DELIVERIES DELEGATED UNDERWRITING PRIOR APPROVAL PRODUCT APPROVALS: FHA VA CONFORMING JUMBO COMPANY NAME: PARENT COMPANY: CORPORATE ADDRESS: (herein Client ) DBA S: CORPORATE WEB ADDRESS: CITY, STATE, ZIP: DATE ESTABLISHED: DATE OF FORMATION: / INCORPORATION: STATE OF FORMATION: FEDERAL TAX ID: CORPORATE NMLS NUMBER: C CORP S CORP INDIVIDUAL PROPRIETORSHIP PARTNERSHIP LLC OTHER: STATE OR FEDERALLY CHARTERED INSTITUTION STATE: FEDERAL UNDER FDIC OCC FRB NCUSIF PERMISSION TO COMMUNICATE VIA PHONE,FAX, AND PRIMARY CONTACT: PHONE NO: FAX NO: _ MAILING ADDRESS: CITY, STATE, ZIP: OWNERSHIP INFORMATION: (Please attach supplemental pages if more space is needed. Applicants with Net Worth less than $1MM or Client ownership >25% are subject to credit background and personal guarantee requirements.) FISCAL YEAR END: NAME OF PARENT COMPANY: NAME: ADDRESS: TITLE: PHONE NO: OWNERSHIP INTEREST: % NAME: ADDRESS: TITLE: PHONE NO: OWNERSHIP INTEREST: % NAME: ADDRESS: TITLE: PHONE NO: OWNERSHIP INTEREST: % MANAGEMENT TEAM CONTACT INFORMATION (Please provide manager names, and telephone numbers.) CHIEF EXECUTIVE OFFICER: ADDRESS: PHONE NO.: CHIEF FINANCIAL OFFICER/CONTROLLER: ADDRESS: PHONE NO.: OPERATIONS MANAGER: ADDRESS: PHONE NO.: SECONDARY MARKETING: ADDRESS: PHONE NO.: UNDERWRITING: ADDRESS: PHONE NO.: COMPLIANCE: ADDRESS: PHONE NO.: QUALITY CONTROL: ADDRESS: PHONE NO.: INFORMATION SYSTEMS: ADDRESS: PHONE NO.: FWF-030.pdf P a g e 2 REV

3 INVESTOR APPROVALS (Indicate by Checking Box) HUD Mortgagee HUD Direct Endorsement YES NO MORTGAGEE APPROVAL NUMBER APPROVAL DATE HUD Direct (HECM/ Reverse Mortgages) VA Ginnie Mae Fannie Mae Freddie Mac Other: Other: APPROVAL LETTERS: Please provide copies of the following, where applicable: HUD Mortgagee Approval Letter HUD Direct Endorsement Approval Letters VA Approval Letter VA Automatic Approval Letter Ginnie Mae Approval Letter Fannie Mae and/or Freddie Mac Approval Letter(s) INSURANCE: Please provide full copies of the following: Errors and Omissions policy (Minimum $500,000 coverage with deductible no greater than $25,000). Fidelity Bond policy (Minimum $500,000 coverage with deductible no greater than $25,000). ERRORS AND OMISSIONS: INSURER: DEDUCTIBLE: POLICY EXPIRATION DATE: $ FIDELITY BOND: INSURER: DEDUCTIBLE: POLICY EXPIRATION DATE: $ QUALITY CONTROL Copy of Quality Control Policies and Procedures. Most recent 3 months of quality control audits and management responses to findings. DOES CLIENT OUTSOURCE ITS QC? VENDOR(S) USED FOR OUTSOURCED QC: PLEASE INDICATE PERCENTAGE OUTSOURCED: YES NO % DOES CLIENT UTILIZE 3 RD PARTY SERVICE PROVIDERS TO CONDUCT INDEPENDENT QUALITY AND/OR COMPLIANCE AUDITS? YES NO IF SO, PLEASE INDICATE FIRMS USED, SCOPE OF AUDITS, AND FREQUENCY OF TESTING: DOES CLIENT OWN AN INTEREST IN THE QUALITY CONTROL OUTSOURCING COMPANY? YES NO VENDORS AND VENDOR MANAGEMENT PLEASE PROVIDE THE FOLLOWING VENDOR / SYSTEMS INFORMATON: LOAN ORIGINATION SYSTEM(S) USED: PREPARATION PROVIDER(S): ENGINE ESTABLISHING INVESTOR PRICING AND/OR RATELOCKING: DOCUMENT PRICING CREDIT REPORTING: FWF-030.pdf P a g e 3 REV

4 STATE LICENSING (Please mark each state where Client is licensed to lend and attach licenses to this application.) AK AL AR AZ CA CO CT DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WV WI WY COMPANY IS A NET BRANCH OPERATION EXEMPT LOAN PRODUCTION PRODUCT TYPE FISCAL YEAR ENDING: FISCAL YEAR ENDING: YEAR TO DATE AS OF: 12-MONTH PROJECTED PRODUCTION: FHA / VA CONVENTIONAL JUMBO HELOCS/ SECONDS PORTFOLIO TOTALS PERCENTAGE OF CLOSINGS YEAR-TO-DATE THAT ARE PURCHASES VS. REFINANCES: % PURCHASE % REFINANCE PERCENTAGE OF CLOSINGS IN THE PAST FISCAL YEAR PURCHASED VS. REFINANCED: _ % PURCHASE % REFINANCE PERCENTAGE OF CLOSINGS IN THE PAST FISCAL YEAR; WHOLESALE VS. RETAIL: % WHOLESALE % RETAIL PERCENTAGE OF CLOSINGS YEAR-TO-DATE THAT ARE WHOLESALE VS. RETAIL: % WHOLESALE % RETAIL PERCENTAGE OF VARIOUS METHODS FOR DELIVERY OF LOAN PRODUCTION: % BEST EFFORTS % MANDATORY % BULK DOES THE COMPANY FINANCE REVERSE MORTGAGES? YES NO IF YES, PROVIDE PERCENTAGE OF REVERSE ORIGINATIONS TO TOTAL ORIGINATIONS YEAR-TO-DATE: % DELEGATED UNDERWRITING AUTHORITY: DOES THE COMPANY HAVE DELEGATED UNDERWRITING AUTHORITY WITH ANY INVESTORS? YES NO PLEASE PROVIDE RESUMES OF UNDERWRITERS. FWF-030.pdf P a g e 4 REV

5 INVESTORS: Please list 3 existing Correspondent or Investor relationships and complete the fields below. Please indicate for each investor if you have been approved for Delegated Underwriting. INVESTOR NAME: CONTACT: NUMBER: ADDRESS: YEARS ACTIVE: _ ANNUAL VOLUME: Products Sold: FHA VA Conforming Conventional Jumbo 2nds/HELOCs DELEGATED UW? YES NO INVESTOR NAME: CONTACT: NUMBER: ADDRESS: YEARS ACTIVE: _ ANNUAL VOLUME: Products Sold: FHA VA Conforming Conventional Jumbo 2nds/HELOCs DELEGATED UW? YES NO INVESTOR NAME: CONTACT: NUMBER: ADDRESS: YEARS ACTIVE: _ ANNUAL VOLUME: Products Sold: FHA VA Conforming Conventional Jumbo 2nds/HELOCs DELEGATED UW? YES NO MORTGAGE INSURANCE COMPANY REFERENCES: For delegated authority, please provide the information for at least 2 MI companies. COMPANY: CONTACT: PHONE: MASTER POLICY NO.: COMPANY: CONTACT: PHONE: MASTER POLICY NO.: COMPANY: CONTACT: PHONE: MASTER POLICY NO.: WAREHOUSE LINES OF CREDIT AND FUNDING SOURCES: Please list existing warehouse facility relationships and complete the fields below. FINANCIAL INSTITUTION: CONTACT: ADDRESS: INITIAL APPROVAL DATE: RENEWAL DATE: TELEPHONE NO.: AMOUNT $ Facility Type: Warehouse Line Early Purchase Facility Self Fund Repurchase Line Other FINANCIAL INSTITUTION: CONTACT: ADDRESS: INITIAL APPROVAL DATE: RENEWAL DATE: TELEPHONE NO.: AMOUNT $ Facility Type: Warehouse Line Early Purchase Facility Self Fund Repurchase Line Other FINANCIAL INSTITUTION: CONTACT: ADDRESS: INITIAL APPROVAL DATE: RENEWAL DATE: TELEPHONE NO.: AMOUNT $ Facility Type: Warehouse Line Early Purchase Facility Self Fund Repurchase Line Other FWF-030.pdf P a g e 5 REV

6 STATEMENTS AND REPRESENTATIONS (Completed by Corporate Officer) My name is, and I am an officer for the Company. I acknowledge that this statement shall become a part of said application and shall be attached thereto. I hereby certify that the responses to the following are true and correct. Please answer the following questions. If answers are yes (other than obtaining criminal background checks and Insured Closing Letters), please provide explanations in area provided on following page, or as a separate attachment. 1. Has any officer or employee of Client been convicted of a crime other than a misdemeanor (e.g. traffic violation)? Yes No 2. Has any officer or employee pleaded guilty, pleaded no contest, or entered into a deferred adjudication agreement regarding criminal charges? Yes No 3. Has any principal of Client ever been a party to a bankruptcy? Yes No 4. Does Client obtain criminal background checks on Company employees prior to employment? Yes No 5. Does Client obtain Insured Closing Letters on each mortgage transaction? Yes No 6. Does any officer, shareholder, employee or agent of our organization (hereinafter principal ) or any member of principal s immediate family or any business controlled or with a substantial interest held by any principal have a financial interest in a settlement, closing or escrow company? Yes No If so, please provide the following information: Name of Company:_ Address: Agent for (Title Underwriter): Founded: Contact: Date Telephone: Employee with ownership in this company: 7. Does your organization share employees, managers or officers with the above settlement, closing or escrow companies? Yes No (If yes, please indicate which employees and job functions as well as how conflict of interest is avoided in section below.) 8. Has the VA or HUD performed any investigation or addressed any adverse finding with the Company? Yes No 9. Has Client s approval with GNMA, FNMA, FHLMC, HUD or VA been suspended or withdrawn in the past five years? Yes No 10. Has Client s good standing record or approval with private investor; private mortgage insurance company or federally insured financial institution been suspended or withdrawn in the past five years? Yes No 11. Has Client been shown to be out of compliance from any exam or audit with any agency or regulator within the past five years? Yes No 12. Has Client shown any adverse changes to its financial position during the past year? Yes No 13. Has Client or any of its officers been the subject to any fine, investigation, administrative action or license revocation by any federal regulatory, state or municipal agency? Yes No 14. Has Client or any of its officers been involved in any lawsuit or arbitration relating to the origination, sale or servicing of mortgage loans? Yes No 15. Do Fidelity Bond or Errors and Omissions insurance coverage policies exclude any officers or employees? Yes No 16. Has your organization been required to indemnify, make whole or repurchase any loans within the past 2 years? (If so, please provide a letter of explanation as an attachment to this application.) Yes No 17. Please attach a schedule to this application containing all unresolved or unsatisfied indemnifications, make whole demands or repurchase demands with investor name, date of demand, product, and cause for demand and amount of potential liability (as illustrated below). Investor Demand Date Product Type Demand Amount Cause Cited for Demand Potential Liability By: Date: Name: Title: FWF-030.pdf P a g e 6 REV

7 FORM OF INDIVIDUAL CREDIT REPORT AUTHORIZATION AND BACKGROUND REPORT I,, as an individual owner or officer of a company applying to become an approved correspondent lender client of Silvergate Bank (the Bank ), hereby grant continuing authorization to the following activities being conducted by employees or agents of Bank: (a) request and receive my loan, depository and credit information from anyone including creditors and credit reporting agencies; (b) request and receive loan depository and credit information regarding any affiliates and or any business ventures in which I am now or previously associated, from anyone, including creditors and credit reporting agencies; and, (c) request and receive background information from my previous employers; law enforcement agencies; state and or federal agencies; educational institutions; and private information bureaus or repositories. I hereby authorize Bank to (1) use a copy of this authorization for the purpose of obtaining any of the items described above, and (2) share copies of any of the items described above that it obtains with its owners, credit providers, and regulatory authorities, as applicable. Signature of Individual DATE: FWF-030.pdf P a g e 7 REV